Deposit and administration of the funds

(1) The Farmers' Organisation shall keep their funds in a Nationalised Bank or a Co-operative Bank or the District Co-operative Central Bank or the Orissa State Co-operative Central Bank in the names of such office bearers as may be prescribed. (2) The funds shall be applied towards meeting of the expenses incurred by the Executive Committee of the concerned Farmers' Organisation in the administration of this Act and for no other purpose.